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88- 105130 It Lender required mortgage insurance as a condition of making the loan secured by this Security Instrument. Borrower shall pay the premiums required to maintain the insurance in effect until such time as the requirement for the insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. 8, Inspection. Lend.r or its .genl may make I'CIlSOn.bl. entries upon and inspections of the Property, Lend.r shall give Borrower notic. .t the time of or prior to an inspection specifying reason.bl. causc for the inspection. 9. Condemnation. Th. proceeds of any award or claim for dam.ges, direct or consequential. in connection with any condemnation or oth.r taking of any pan of the Property, or for conv.yance in li.u of condemn.tion. ar. h.r.by assigned and shall be paid 10 L.nd.r. In the .vent of a tollll taking of the Property, the proccods shall be applied 10 th. sums secured by this Security Instrum.nt, wh.th.r or not th.n duc, with any excess paid to Borrower. In the .vent of a partial taking of the Prop.rty, unless Borrower and L.nder otherwise agree in writing. the sums secured by this Security Instrument shall b. r.duced by the amount of the proceeds multiplied by the following fraction: Ca) th.tollll amount of the sums secured immedi.tely before th.taking, divided by (b) the fair mark.t value oflh. Property Immedi.t.ly befor.th. taking. Any bal.nc. shall b. paid to Borrower. If the Property is abandoned by Borrower, or if. aft.r notic. by L.nder to Borrow.r th.1 the cond.mnor off.rs 10 make an award or settle a claim for damages. Borrower fails t~ respond 10 Lend.r within 30 days afl.r the dat.th. notic. is given. Lend.r Is authorized to collect and .pply the proceeds. at its option, either to restoration or repair of th. Prop.rty or to the sums secured by this Security Instrument. whether or not then due. Unless Lender and Borrower oth.rwis. agree in writing, any application of proceeds to principal sh.ll not extend or postpone the due daIC of th. monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 10. Borrower Not R.leased; ForbearaJ1ce By Lend.r Not a Waiver. Extension of the time for paymenl or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original ECJrrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any succc:.....}r in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in ex6rcising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successors and Assl_ Bound; Jumt and Several Uability; Co-signers. Th. cov.nants and agreements of this Security Instrument shall bind and benefit the successors and assigns ofLend.r and Borrower, subject 10 the provisions of paragraph 17. Borrower's covenants and agreements shalI be joint and several. Any Borrower who co-signs this Securily Instrument but does nllt execute the Not.: Ca) is co-!ligning this Security Instrument only to mortgag., grant and convey that Borrow.r's inICrest in the Property und.r th.terms of this Security Instrumenl; (b) is not personally obligated to pay !b. sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower'may agree to .xt.nd, modify. forbear or make any ac:commodations with regard to the terms of lhis Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. If the loan secured by lhis Security Instrument is subject to al.w which sets maximum loan charges, and that law is linalIy interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by th. amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which excceded permitted limits will be refunded to Borrower. Lender may choose to make this r.fund by reducing the principal ow.d under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charg. under the Nol<'. 13. LegIslation Alfectiag Lender's Rights. If enactment or expiration of .pplicabl. laws has the effect of rendering any provision of the Not. or this Security Instrument unenforceable aceording to its t.nos, Lender, at Its option, may require immediate payment In full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. IfLend.r exercises this option, Lend.r shalltak. the st.ps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by d.livering it or by mailing it by first class mail unless applicable law requires usc of anoth.r m.thod. The notice shall be dir.cted to the Property Address or any other address Borrower designalCS by notic. to Lender. Any notice to Lender shall be given by first class mail to Lender's addr.... stated herein or any oth.r address Lend.r designates by notice to Borrower. Any notic. provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when giv.n as provided in this paragraph. 15. Goveralag'Law; Severability. This Security Instrument shall be governed by f.d.raIlaw and the law of the jurisdiction in which the Property is located. In th. event that any provision or ciaus. of this Security Instrument or the NolC conflicts with applicabl.law, such confiict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to'be severable. 16. Borrower's Copy. Borrow.r shall b. given on. confonned copy of the Note and of this Security Instrum.nt. 17. Transfer of the Property or a Beneficial Interest in Borrow.r. If all or any part of the Prop.rty or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent. Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender If .x.rcise is prohibited by federal law as ofthe date of this Security Instrument. If Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shan provide a p.riod ofoot less th"" 30 days from th. date the nOlice is d.livered or mailed within which Borrow.r must pay all sums secur.d by this Security Instrument. If Borrower fails 10 pay these sums prior to the expiration of this period, Lend.r m.y invoke any remedies permitted by this Security Instrument withoUI further notice or d.mand on Borrower. Ill. Borrower', Right to Reinstate. If Borrower meets certain conditions, Borrow.r shall have th. right to have enforcen,enl of this Security Instrument discontinued at any tim. prior to th. earlier of: (a) 5 days (or such oth.r period as applicabl.law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: Ca) pays Lender all sums which then would be due und.r this Security Instrument and the Not. h.d no aceel.mtion occurred; (b) cures any default of any other covenants or agreements: (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable Ilttorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower. this Security [nst:lJrnent and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However. this right to reinstate shalJ nol apply in the case of acceleration under paragraphs 13 or 17